US September PPI Rises 0.3% Month-on-Month, In Line With Expectations—Airfares Jump 4% (Update)

(New York=Yonhap Infomax) Jin Woo Choi—The US Producer Price Index (PPI) for September 2025 matched market expectations, signaling persistent inflationary pressures in the supply chain.

According to the US Department of Labor on the 25th (local time), the seasonally adjusted PPI rose 0.3% month-on-month in September, aligning with the market consensus of 0.3%. This marks a reversal from the previous month’s 0.1% decline. On a year-on-year basis, the PPI increased 2.7%.

The core PPI, which excludes food and energy, rose 0.1% from the previous month, coming in below the market forecast of 0.2%.

Food prices climbed 1.1%, while energy prices surged 3.5%. Excluding food and energy, goods prices increased 0.2%.

The Department of Labor noted that 60% of the September increase in goods prices was attributable to an 11.8% jump in gasoline prices.

The services index was unchanged for the month. While transportation and warehousing services rose 0.8%, trade service margins—which reflect changes in margins received by wholesalers and retailers—fell 0.2%.

Portfolio management, which is reflected in the Federal Reserve’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) Price Index, declined 1.2%.

Airline passenger services saw a sharp 4.0% increase. Outpatient hospital care fell 0.4%, while inpatient hospital care edged up 0.1%.

jwchoi@yna.co.kr

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